Goods exports increased by 12.6% y/y in Nov-24
In Nov-24, goods exports increased by 12.6% y/y to US$ 542.6mn, after a 39.0% y/y growth in previous month. Goods imports rose by 10.5% y/y to US$ 1.4bn, following a 9.1% growth y/y in previous month. Consequently, the trade deficit increased by 9.3% y/y to US$ 890.3mn in Nov-24.
Overall, in 11M24, trade deficit increased by 4.9% y/y to US$ 9.1bn, as exports increased by 7.9% y/y to US$ 6.0bn and imports were up by 6.1% y/y to US$ 15.1bn.
FDI in Georgia stood at US$ 197.7mn in 3Q24
FDI in Georgia decreased by 55.2% y/y to US$ 197.7mn in 3Q24, after a 10.3% y/y growth in 2Q24. This decline in FDI was primarily driven by a significant drop in equity investments (-78.1% y/y to US$ 131.2mn), followed by reinvestments (-13.6% y/y to US$ 358.4mn). The overall low level of FDI was further influenced by a reduction of US$ 291.9mn in debt instruments.
The manufacturing sector was the largest FDI recipient at US$ 63.6mn (+147.2% y/y), followed by electricity at US$ 43.0mn (+60.4% y/y), trade at US$ 32.1mn (-42.9% y/y), real estate at US$ 22.9mn (-46.9% y/y) and transport at $ 21.4mn (-68.0% y/y). Meanwhile, there was an outflow of FDI in financial sector (-US$ 44.0mn) in 3Q24.
The Netherlands topped the list of investors with US$ 60.2mn (30.4% of total FDI), followed by Malta at US$ 58.3mn (29.5% of total) and UK at US$ 55.0mn (27.8% of total).
Overall, in 9M24, FDI declined by 39.9% y/y to US$ 966.3mn accounting for 4.0% of GDP.
